That's how everything in the solar system started. As floating debris. Eventually it will all fall back to Earth, most of it burning up upon re-entry. Besides, consider the amount of ground space there is on Earth. Now expand that out about 4 miles in each direction and that's how much space we're talking about. A lot. 200,000 sounds like a lot, but you'd be hard pressed to find any of it.
I just don't see it being an issue. Think about a million small pieces strewn throughout the planet surface. Now imagine that surface area doubled. And add to that they're in 3 dimensional space rather than along a 2d plane. Not worth the concern.
Von Noggin I recently watched a NASA documentary that claimed at the current rate of space pollution it will be impossible to get into space in the future. These particles travel faster than bullets. When they collide more bits are created.